CHICO, Calif., Oct. 8, 2014 (GLOBE NEWSWIRE) -- AmeraMex International, Inc. (OTC:AMMX), a provider of heavy equipment for logistics companies (stevedoring/shipping), infrastructure construction, commercial farming and mining companies, provides an update pertaining to the Niger project.
On July 30, 2014, the company announced that it had received commitment letters from two Niger banks to partner with the Niger Government in the purchase of trucks from the company. The funding organization along with the government of Niger has now added a third bank, one of the largest operating in West Africa, which will assist the private sector companies participating in the infrastructure project. Management then provided a time line on August 14 of six to eight weeks (October 1 – October 14) for the completion of the funding. Management has now been told by our representatives working in Niger that currently over half of the tractors and trailers have received the required signed contract and agreement for the down payment; therefore, the criteria has yet to be fully met but the entire project is well on its way.
AmeraMex CEO Lee Hamre commented, "The Niger Truck Agreement, signed by the Niger government, is moving through the process which was expanded by the banks and government to ensure adequate funding. We will continue to share progress on the funding but want to remind our shareholders that we are expanding our customer base and growing our profitable core business, which is mainly the sale of container handlers in all of the Americas.
"While we are confident in the success of the funding, we are not putting all of our energy into International export. We have two AmeraMex consultants in the region to work with the Niger government on the truck agreement and other opportunities. We have just received notice from Niger's Minister of Defense that a $15 million proposal for late model construction equipment, submitted six months ago, has passed the approval stage by Parliament. Business in Africa is abundant but takes longer to culminate because of funding. For this reason," added Hamre, "we are always working hard on expanding our core business here in the Americas. This core business is what we know the best and what we have been doing for over 37 years."
About AmeraMex International
AmeraMex International sells, leases and rents heavy equipment to companies within four industries: construction (light and infrastructure), shipping logistics, mining and commercial farming. AmeraMex, with customers in the Americas, Africa, Asia and Eastern Europe, has over 30 years of experience in heavy equipment sales and service, and inventories top-of-the-line equipment from manufacturers such as Taylor Machine Works Inc. and Terex Heavy Equipment. For more information visit the AmeraMex website, www.AMMX.net or www.hamreequipment.com.
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CONTACT: Investor and Media Relations McCloud Communications, LLC Marty Tullio, Managing Member Office: 949.632.1900 or Marty@McCloudCommunications.comSource:AmeraMex International